Commercial Metals Company (NYSE:CMC) – Research analysts at KeyCorp increased their FY2018 EPS estimates for Commercial Metals in a research note issued to investors on Tuesday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $1.08 per share for the year, up from their previous estimate of $1.05. KeyCorp also issued estimates for Commercial Metals’ FY2019 earnings at $1.36 EPS.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Citigroup cut their price objective on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, September 15th. Bank of America reaffirmed a “neutral” rating and set a $21.00 price objective (up previously from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Jefferies Group cut their price objective on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. Finally, Macquarie initiated coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price objective on the stock. Three analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $21.88.

Commercial Metals (CMC) traded up $0.75 during midday trading on Friday, hitting $20.77. 2,677,300 shares of the stock were exchanged, compared to its average volume of 2,053,347. The company has a quick ratio of 1.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2,480.00, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 0.74 and a beta of 1.26. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $24.64.

Institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank raised its position in Commercial Metals by 30.7% during the second quarter. Comerica Bank now owns 153,530 shares of the basic materials company’s stock valued at $3,071,000 after acquiring an additional 36,049 shares in the last quarter. Arizona State Retirement System grew its holdings in Commercial Metals by 1.5% during the second quarter. Arizona State Retirement System now owns 48,800 shares of the basic materials company’s stock valued at $948,000 after purchasing an additional 700 shares during the last quarter. Koch Industries Inc. acquired a new position in Commercial Metals during the second quarter valued at approximately $270,000. Royce & Associates LP grew its holdings in Commercial Metals by 10.8% during the second quarter. Royce & Associates LP now owns 1,651,577 shares of the basic materials company’s stock valued at $32,090,000 after purchasing an additional 161,000 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Commercial Metals during the second quarter valued at approximately $29,018,000. 88.62% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.31%. The ex-dividend date was Tuesday, November 7th. Commercial Metals’s payout ratio is presently 177.78%.

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Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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